Texas Pacific Land Co. (NYSE:TPL) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,089 shares of the financial services provider's stock after selling 1,642 shares during the quarter. New York State Teachers Retirement System's holdings in Texas Pacific Land were worth $12,264,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Caprock Group LLC lifted its holdings in Texas Pacific Land by 3.0% in the 4th quarter. Caprock Group LLC now owns 273 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 8 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Texas Pacific Land by 21.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 12 shares in the last quarter. Signaturefd LLC lifted its holdings in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Texas Pacific Land by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider's stock valued at $390,000 after purchasing an additional 13 shares in the last quarter. Finally, First Financial Bankshares Inc lifted its holdings in Texas Pacific Land by 2.2% in the 3rd quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 2.8 %

TPL stock traded down $40.38 during midday trading on Friday, reaching $1,390.63. The stock had a trading volume of 24,479 shares, compared to its average volume of 121,909. The company's fifty day simple moving average is $1,284.12 and its 200 day simple moving average is $1,146.42. The company has a market cap of $31.96 billion, a price-to-earnings ratio of 70.24 and a beta of 1.68. Texas Pacific Land Co. has a 52-week low of $493.40 and a 52-week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a return on equity of 40.28% and a net margin of 64.32%. The business had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $6.40 annualized dividend and a dividend yield of 0.46%. Texas Pacific Land's dividend payout ratio is presently 32.45%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.